Even the rich are feeling the squeeze

Updated
Burberry
Burberry

If you're fabulously wealthy, you may be wondering what the fuss about the so-called Great Depression is all about. The rich have sailed through relatively unscathed, buoyed by low interest rates.

For evidence of this, you only have to look at the performance of luxury goods companies. A recession is usually a rotten time for them, as consumers cut back on the bling, and stick to buying the basics.

Advertisement